June saw £1,000 weekly house price rise

Government figures show that house prices in the UK rose by £1,000 every week in June. The average house price is now £214,222.

Annual house price growth stands at 12.1% in the UK, although growth in London continues to outstrip the rest of the country. House prices in the capital grew by 17.5% in the last twelve months.

The figures were released by the Department for Local Government and Communities, which said the increase was driven by rises in prices paid for flats and bungalows.

Howard Archer, chief economist at Global Insight, said the DLGC figures were "markedly stronger than expected".

However, he said: "The overall impression we get from the very latest data and survey evidence is that the housing market has peaked and is gradually and erratically coming off the boil."

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